A bag contains 8 blue coins and 10 red coins. A coin is removed at random and replaced by three of the other color.
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Answer:
Step-by-step explanation:
We know that:
FV = $130,000
r = 4% (semiannually )
We need to find number of periods (n) , the child is now 6 years old, until the child is 18 is 12 years. But it is the rate is compounded semiannually, so n = 12*2 = 24
We have the fomula to find out periodic payment (see the attached photo)
=> pmt = 3326.288
